fbpx

Gidea Park – What to look for in houses for sale?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Greater London $ Gidea Park – What to look for in houses for sale?

Gidea Park can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Gidea Park.

On top of this, keep reading for detailed information on the demographics of Gidea Park in London. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.

What kind of demographics does the city of Gidea Park have?

What salary does the community in Gidea Park take home?

As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (27%). All in all, the area becomes a more desirable place to live in.

This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Gidea Park, this works out to be £52,400. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

How deprived is the population of Gidea Park?

The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.

If the proportion of deprivation of Gidea Park is 22% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.

Have the people of Gidea Park grown in numbers?

Population growth in Gidea Park is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.

In Gidea Park, 13,240 people live in the city as their main place of residence.

It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.

Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.

In Gidea Park in the previous five years, have population numbers transformed?

Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Gidea Park, this change has been 5%. Read more here

Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 5%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in Gidea Park?

Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 10% in Gidea Park.

What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.

In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.

This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.

The city of Gidea Park, situated in London, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Gidea Park and its demographics will be compared to its wider location (Greater London). This includes population size, growth and population education now and into the future.

These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Gidea Park. So, taking a good look at the data is essential to understand the area you are considering to buy in.

In Gidea Park, what is the crime rate?

The crime rate of Gidea Park must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.

For example, the area has a crime rate of 79, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.

Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.

Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (79) is both useful and is recommended to be compared to the average.

What is the education level like in Gidea Park?

In Gidea Park, the proportion of people who have a degree is 27%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Gidea Park is £52,400.

This figure for average household income usually goes up alongside the percentage of people who have degrees.

However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.

Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.

In Gidea Park, what is the social grade score?

In the city of Gidea Park and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.

In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.

When trying to determine if the area of Gidea Park has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 27%.

Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)

Social Score Category The proportion of the UK population (%)
A Professional, managerial or administrative 4
B Intermediate managerial or professional jobs 23
C1 Supervisory, junior managerial or professional jobs 29
C2 Skilled manual workers 21
D Semi and unskilled manual workers 15
E State pensioners, casual & lowest grade workers 8

Is there sufficient green space in Gidea Park?

In the city of Gidea Park, there are 13.4 acres of green space per 1000 residents.

The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Gidea Park is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

In general, what do houses for sale sell for in Gidea Park?

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Gidea Park. In Gidea Park, this sale price works out to be £470,758. As an example, a factor like population growth over the last 10 years which works out to be 10% in Gidea Park and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) £785,474
Average sold price (semi-detached) £532,803
Average sold price (terraced) £461,111
Average sold price (flat) £278,773

Above, the exact type of house is also shown to vary in price in a table in Gidea Park. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.

Housing category Sale price per square foot
Average sold price/sqft £4,650
Average sold price/sqft (new build) £4,870
Average sold price/sqft (old stock) £4,570

In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Gidea Park which is £4,650. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.

How are rental yields of the houses for sale different to the rest of the UK in Gidea Park?

In Gidea Park, how has the number of houses changed?

The growth of an area like Gidea Park can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.

Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.

1 year 3 years 5 years
Gidea Park growth rate 5% 20% 24%

Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.

Make sure you do your own research specific to the city of Gidea Park if you want to find out the exact reasons for the housing change.

Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.

Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.

For the city of Gidea Park, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; Greater London. As well as London, to give a smaller scale area to compare the data to.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Gidea Park 3.3% £1,503 no relevant data for this city 33.0%
London 3.96% £2,001 129.93% 12.05%
Greater London 3.88% £1,899 129.14% 13.30%

Assuming that in the future you want to re-sell the house you will eventually purchased in Gidea Park you might be interested in the number of sales per month (19) that happen in the local housing market. Comparing this figure for Gidea Park with the above table gives you a good understanding of the profitability of the area.

On average, what is the figure for the asking price of a house for sale in Gidea Park?

When speaking about the city of Gidea Park, £541,875 is the asking price for a house for sale.

We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Gidea Park.

The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.

Average asking prices for houses for sale in Gidea Park

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £323,182
Average asking price (3 bed) £558,500
Average asking price (4 bed) £796,944
Average asking price (5 bed) no relevant data for this city

After looking at this table about prices of houses for sale in Gidea Park, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £0 will help them to have a more wholistic understanding.

Who can help you buy a house for sale in Gidea Park?

Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.

Below, you can find a list of professionals that come in handy when looking for houses for sale:

  • Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
  • Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
  • Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
  • Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
  • Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
  • Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment

Choose the right house for sale that suits your needs

Many criteria impact the price of houses for sale in Gidea Park.
Here below are the most important ones according to Lofti’s expertise:

  • Affordability – (see what house for sale can you afford?)

    A guide from the UK government

  • House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.

  • Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying

  • Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom

  • Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.

  • Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale

  • Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance

  • Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.

House for sale in the same UK region

We have prepared a list of cities in Greater London, the same UK region of Gidea Park that can help you evaluate the different houses for sale listed in the region:

Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *